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Hello, can you help me determine how to answer the below? I've gotten some of it complete. Shamrock, Inc. issues a $660,000,10%,10-year mortgage note on
Hello, can you help me determine how to answer the below? I've gotten some of it complete.
Shamrock, Inc. issues a $660,000,10%,10-year mortgage note on December 31, 2017, to obtain financing for a new building. The terms provide for annual installment payments of $107,412.
Prepare the entry to record the mortgage loan on December 31, 2017, and the first installment payment on December 31, 2018.
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